TALCO sets TASI IPO price range at SAR 40-43/share

Logo of Al Taiseer Group Talco Industrial Co. (TALCO) 

Al Taiseer Group Talco Industrial Co. (TALCO) set the price range for its initial public offering (IPO) on the Saudi main market (TASI) between SAR 40 and 43 a share, Alinma Investment Co., the sole financial advisor, bookrunner, underwriter and lead manager on the IPO, said in a statement.

The book-building period for participating parties will run from May 20 to May 23.

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Participation in the book-building process is confined to the participating parties in accordance with the Instructions for Book Building Process and Allocation Method in Initial Public Offerings issued by the Board of the Capital Market Authority (CMA).

The final offering price per share will be determined after the completion of the book-building process, which will be followed by the retail investors’ subscription process, the statement added.

The company plans to float 12 million shares, or 30% of its share capital of SAR 400 million (40 million shares), on TASI at a nominal value of SAR 10 per share, data available to Argaam showed.

Retail investors’ subscription period will run for two days, starting May 28.